Apartment 7, Arcadia Hall, Lower Glanmire Road, Cork City, Cork

4 beds 2 bath 900 ft2

Description

DNG Creedon auctioneers are proud to present to the market a four bedroom apartment located in Cork city. This apartment is located on the fourth floor of the building. This apartment is adjacent to Cork's train station (Kent train station).

This building was constructed in the year 2002 approximately. Currently the apartment comprises of four single bedrooms, two bathrooms and open plan living area. The property is heated by electric storage heating. This building was purpose-built for student and holiday accommodation. The apartment is located on the ground floor. This building has the advantage of on-site property manager.

The property is currently producing a gross income of €14,820 for the academic year (September 2016 to May 2017). The complex management charges are approximately €1,998 per annum plus a sinking fund of €600. This includes refuse for tenants, complex upkeep, block insurance and an on-site property manager. The income being produced net of complex management charges is €12,222 for the academic year (September 2016 to May 2017).

Features

4 bedroom apartment
Located in Cork City Centre
Constructed in 2002
Located on the ground floor
On-site property manager
Gross income of €14,820 for academic year
100% Occupancy
Management charges are €1,998 per annum plus a sinking fund of €600
Net return of 12.3%
Circa 900 square feet / 83.61 square metres

DNG Michael Creedon, for themselves and for the vendors or lessors of the property whose Agents they are, give notice that: (i) The particulars contained herein are set out as a general outline for the guidance of intending purchaser ...